The metaverse was created with the purpose of providing users worldwide with a more immersive way of interacting and socializing on the internet. In many ways, users have already been acquainted with elements of the metaverse in the form of online games. Many different video games, such as Minecraft and Fortnite, allow users to experience other worlds within those platforms. But these worlds, as they exist now, are fragmented. There is no collaboration between different developers to provide one seamless experience where the avatars or other assets of a game can be used in another. Skeptics such as the CEO of Where Thoughts GO, Lucas Rizzoto, remarks that the metaverse being a single entity is a mass delusion.
So what’s the difference between these video games and the metaverse? One significant distinction the metaverse promises to provide is seamless interoperability between different platforms and the ability to use a single identity or avatar across them. They can use these platforms to not only have fun experiences but also provide the ability to meet and collaborate on work-related activities. The vast range of experiences made possible by metaverse can be used for multiple applications. That’s why many organizations are rushing to invest in it. The rising popularity of the metaverse is indicated by its surge in growth from $12bn in the year 2020 to $72.8bn by 2024 as compared to OTT platforms, which will only reach $13-15bn industry by 2030. This clearly shows the potential of interactive social experiences as compared to consumable content. But, the biggest question that everyone is searching for an answer to is whether the metaverse will remain fragmented or evolve into a single multi-platform entity.
Why the Metaverse is a Fragmented Multi-Platform Entity
Today, many organizations are trying to develop a diverse range of metaverse environments and applications. To make their experience different from their competitors’ platforms, these organizations use their own methodologies, designs, and choice of programming languages to develop these applications. This approach comes with its own set of advantages and limitations. The benefits of a fragmented metaverse include:
1) Competitive advantage and differentiation
As different companies create their own fragments of the metaverse, their processes and intellectual property will be protected, providing them with the opportunity to be different from their competition. As a result, they can offer highly unique experiences to their users. Such experiences will also attract similar kinds of people, allowing for easy targeting and personalization.
2) Control over customer privacy and continuity
The metaverse currently isn’t controlled by a single entity but by the owners of the different metaverses or virtual experiences respectively. Therefore they possess complete control of its security and confidential information shared by their users. So, they can be fairly assured of the security of sensitive data.
However, a fragmented metaverse also comes with its own set of disadvantages, such as:
1) Vulnerability to new cyber threats
The same thing that gives the owners of metaverse experiences the edge over their competition also serves as a threat. Due to competitive reasons, businesses rarely share the details of cybersecurity incidents they face. The same will apply in the metaverse. They will not provide others with the information regarding new cyber threats they face, to help them secure their systems. And because there is no collaboration between the different metaverses, the security of the different metaverses’ systems will face danger.
2) Higher costs
In a fragmented metaverse, there is zero interoperability. So, the burden of all the security and infrastructural costs will lie solely on the shoulders of the organization that runs and owns the particular metaverse experience, making it more costly than the shared cost of building multiple experiences on a
common platform.
Can the Metaverse be a Single Entity?
Metaverse purists believe that there will be a single entity — like the internet right now — that will be an interconnected web of every virtual world that exists. Here, an individual's identity will have the means to move between different worlds seamlessly, just like internet users can sign in to different websites and applications using a single email ID. This would mean the creation of a shared platform that allows organizations to build their own metaverse experiences. For businesses planning to create virtual experiences, the benefits of having a single multi-platform entity include:
1) Shared identity storage and management
If the metaverse becomes a single entity, then there will need to be a shared platform to store, secure, and keep track of all the different user IDs and assets. This shared platform and these tasks can be managed by the platform operators or regulators, allowing the organizations that create virtual experiences to focus on their different core competencies and find ways to enhance their competitive advantage.
2) Lower costs
Due to the shared security and infrastructural costs, businesses will be able to minimize the risks and costs of having to build virtual experiences from scratch. They will then be able to focus more on making their virtual experiences more engaging and unique.
In summary, if the metaverse remains fragmented, there will be more motivation to compete with other metaverses, but it could be a bit more expensive. If it becomes a single entity, the costs of hosting and protecting the common resources will be shared by all participating businesses.
The debates between skeptics and purists of the metaverse as a single entity will continue in the foreseeable future. Whatever the future holds is yet to unfold. But certain facts about the metaverse will always remain true, like the fact that the metaverse will reduce the global carbon footprint significantly. It will make the geographical location users redundant to allow workers and non-work-related users to connect with others remotely. It will change our perception of the world as we know it today. Only time will tell if the fragmented metaverse will continue to exist or become a single entity, just like in the movie Ready Player One.
